COVID-19 has presented some unique challenges for the dental industry. According to the American Dental Association, dental offices across the country will experience an estimated $100 billion in lost revenue due to the pandemic. OrthoFX hopes to curb that financial loss by presenting its patients with technology driven, at-home, dental care solutions.
“[OrthoFX] has allowed me to continue providing effective care, even when my offices were closed for such a long period of time” Dr. Jonathan Levine, dentist and OrthoFX provider, said in a statement.
The San Francisco-based dental care startup raised $13 million in a financing round announced on Wednesday. The Series A was led by venture capital firm SignalFire.
OrthoFX, an at-home orthodontic and teeth-straightening service, pairs each of its dental patients with an orthodontic professional. Dentists then immediately provide patients with an initial consultation. The consultations can take place either virtually or in-person, depending on the state in which the patient resides.
“We started OrthoFX with the premise that a high-quality patient experience must involve care delivered by an orthodontic professional,” Ren Menon, CEO of OrthoFX, said in a statement.
Following their consultation, patients receive teeth aligning trays in as little as two days. The aligners are then changed weekly. On average, patients finish the program in as little as six months.
“We want to make sure that this is a device that is addressing not just the concerns of the practitioner or the dentist, it is addressing the needs of the end person receiving the care, which is the patient,” Menon said in an interview with Built In.
The additional capital will primarily be used for research and product development. The company recently launched its Rescue Aligner, a new product that gives patients the opportunity to get back on schedule if they forget to wear their teeth aligners daily.
OrthoFX delivers its Rescue Aligner in less than four days from the moment a patient first reports that they’ve fallen off track. According to the company, this is not the case for other dental programs, which typically require that a patient restart the treatment process from the beginning if they were to fall off schedule.
The company also offers additional products including retainers, whitening kits and a bluetooth-connected aligner case. The case is fitted with built-in sensors that allow patients and doctors to track wear time and treatment plan efficiency.
“Without a doctor’s oversight, serious and permanent issues like periodontal disease, tooth decay, jaw pain, and misaligned bites can go undiagnosed,” Levine continued.
The OrthoFX treatment program starts at $2,950 and, according to the company, most of the insurance it accepts can bring the treatment cost down to $950. Trial aligners are available for prospective patients to purchase at $95.
Looking to the future, Menon hopes the company can help improve more than just a patient’s smile.
“[Our] product pipeline ... has attributes that will take us further into helping the patient manage their health and wellness beyond just looking good,” Menon told Built In. “Our whole mission is look good, feel good, and that second part is equally important.”
OrthoFX, founded in 2017, has raised $17 million in venture capital to date, according to Crunchbase. Additional investors Unusual Ventures, ShangBay Capital and Kairos also participated in the round.
